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RNS - Hofseth Biocare ASA: HBC ACCELERATES IN HUMAN HEALTH AND PET NUTRITION THROUGH A STRATEGIC PARTNERSHIP WITH SYMRISE TO BUILD OUT BERKÅK, TRIPLING THE MANUFACTURING CAPACITY OF THE GROUP

Company: Hofseth BioCare ASA Date: 2025-02-21 Language: English Register to download

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 Hofseth Biocare ASA: HBC ACCELERATES IN HUMAN HEALTH AND PET NUTRITION THROUGH A STRATEGIC PARTNERSHIP WITH SYMRISE TO BUILD OUT BERKÅK, TRIPLING THE MANUFACTURING CAPACITY OF THE GROUP

# Hofseth Biocare ASA: HBC ACCELERATES IN HUMAN HEALTH AND PET NUTRITION THROUGH A STRATEGIC PARTNERSHIP WITH SYMRISE TO BUILD OUT BERKÅK, TRIPLING THE MANUFACTURING CAPACITY OF THE GROUP

HBC will accelerate its manufacturing scale and market reach with the  

construction of a second enzymatic hydrolysis plant in Berkåk, Norway. Symrise  

will support the financing of the project through a EUR 5m loan. The partnership  

ideally complements both HBC and Symrise's current portfolio with science-led,  

clinically proven marine ingredients for Consumer Health. HBC have also signed  

an exclusive distribution agreement for OmeGo®, ProGo® and NT-II(TM) into the  

Consumer Health and Functional Food categories for four of Symrise's global key  

accounts.  

  

Hofseth BioCare ASA ("HBC") today announced that it has signed a strategic  

partnership with Symrise, a global leader producing flavours, functional  

ingredients and solutions that enhance sensory properties and nutrition in a  

sustainable way. With this partnership, HBC and Symrise will expand its presence  

in the Health category with clinically proven marine ingredients. Symrise will  

ideally complement its current portfolio and through its loan, will accelerate  

HBC's scale with the construction of a second facility in Berkåk. Accompanying  

the partnership is an exclusive agreement to distribute HBC branded ingredients  

into four Symrise global key accounts.  

  

The proceeds from the loan will be used for converting the HBC Berkåk facility  

into a state-of-the-art enzymatic hydrolysis plant that will triple the current  

production of HBC. Symrise and HBC will further explore the possibilities of  

collaboration on new product developments and leverage Symrise's market reach to  

promote HBC products globally. HBC Berkåk facility is now fully funded with  

Symrise's loan and an approved credit facility of NOK 60m from Sparebank 1  

Nordmøre. We expect all permissions to build out the plant to be approved by the  

second quarter 2025 and the expansion of a new hydrolysis plant to start  

immediately thereafter. Preliminary start of production is targeted to the  

second quarter of 2027.  

  

"This partnership with HBC is testament to their unique footprint and  

differentiated science. Their investments in clinical studies to demonstrate  

proven benefits in key categories of metabolic health, immune health, gut health  

and mobility, stands them apart. This partnership is well aligned with our  

willingness to accelerate in health in the context of our "One Care" journey but  

also with the recent creation of the Global Marine Platform to explore the vast  

potential that the oceans could offer us.", said Dr. Jean-Yves Parisot, CEO of  

Symrise AG.  

  

Sustainability is deeply embedded into HBC's DNA. HBC has developed a unique  

proprietary technology to upcycle fresh salmon offcuts not used in the  

production of fillets into bioactive ingredients with demonstrated health  

benefits. The collaboration between HBC and Symrise will enhance the public  

awareness of the health value of marine ingredients and will further help  

position HBC as the leader in science-led marine nutrition, globally.  

  

Jon Olav Ødegård commented: "Symrise have been a key partner for us already and  

we are very excited to move ahead as they will help transform our scale and  

market access with their well-established market presence. The human health and  

premium pet markets continue to grow very strongly, and this partnership will  

allow us to sustain our growth trajectory and position us as the leading player  

in the science-led marine nutrition segment dedicated to human health."  

  

Investor Contact:  

  

Jon Olav Ødegård, CEO of Hofseth BioCare ASA  

Phone: +47 936 32 966  

Email: joo@hofsethbiocare.no  

  

About Hofseth BioCare ASA: Hofseth BioCare is a Norwegian consumer and pet  

health company founded on the core values of sustainability, optimal utilization  

of natural resources and full traceability. It upcycles the side streams of the  

salmon industry by taking fresh filleted salmon and converting it from a waste  

product into ingredients to improve human and pet health. These ingredients are  

ProGo®, a mix of bioactive peptides and collagen, OmeGo®, a whole salmon oil,  

with all the fatty acid fractions contained in fish, and CalGo® / NT-II(TM) salmon  

bone powder containing calcium hydroxyapatite and undenatured collagen for bone  

and joint health. HBC places scientific evidence at the forefront which has led  

to important academic partnerships and the identification of unique health  

benefits. This includes the demonstration of improved iron metabolism by  

boosting the body's ability to take up and use iron resulting in increased  

energy and vitality with ProGo® as well as the activation of the GLP-1 receptor  

with fat reduction in overweight adults. OmeGo® has shown important immune  

health benefits including recovery from viral infection and improved respiratory  

health and sleep in adults troubled by particulate matter pollution. Finally,  

CalGo® has shown both bone and joint health benefits to support healthy ageing  

and active lifestyles. This work has also resulted in the granting of a number  

of patents protecting these discoveries. It has also led to the discovery of  

potential therapeutics and HBC has spun out a biotech-focused company, HBC  

Immunology (HBCI). HBCI has raised external finance, and the lead program is in  

prostate cancer followed by ovarian cancer. A separate molecule is targeted as  

an oral, steroid-sparing therapy for asthma.  

  

About Symrise AG: Symrise is a global supplier of fragrances, flavours, food,  

nutrition and cosmetic ingredients. Its clients include manufacturers of  

perfumes, cosmetics, food and beverages, pharmaceuticals and producers of  

nutritional supplements and pet food. Its sales of around EUR5 billion in the  

2024 fiscal year make Symrise a leading global provider. Headquartered in  

Holzminden, Germany, the Group is represented by more than 100 locations in  

Europe, Africa, the Middle East, Asia, the United States and Latin America.  

Symrise works with its clients to develop new ideas and market-ready concepts  

for products that form an integral part of everyday life. Economic success and  

corporate responsibility are inextricably linked as part of this process.  

Symrise - always inspiring more ?  

  

This information is considered to be inside information pursuant to the EU  

Market Abuse Regulation (MAR) and is subject to the disclosure requirements  

pursuant to MAR article 17 and section 5-12 of the Norwegian Securities Trading  

Act.